Gentle Ben Bernanke took the gloves off on Capitol Hill yesterday, issuing a clarion call for fiscal restraint beyond emergency measures to offset the cyclical downturn.
Is this payback for the Obama Administration by Bernanke? Could be. Since election day, rumors have flaoted that Bernank would not be reappointed when his term ends in 2010. Perhaps seeing the writing on the wall, Bernanke is going to make life slightly less comfortable for the White House, challenging their gandious spending plans in the face of a tsunami of entitlement spending just over the horizon as us Boomers age.
Let the games begin.
